Jury.Online to Revolutionize the Token Sale Industry through Responsible ICOs

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The token sale industry has grown tremendously. To the point established companies like Telegram and governments like that of Venezuela are issuing their own cryptocurrencies. Initial Coin Offerings (ICOs), however, face a number of problems as in most cases investors can’t safely know the startup they’re investing in is trustworthy.

Recently, Prodeum’s ICO pulled an exit scam on its investors, and even trolled them in the end. Most ICOs can face a number of issues, including a lack of or inconsistent communication between both parties, see poor commitment or a lack of guarantees on behalf of the project’s developers, and the lack of a refund assurance if the project fails to follow its roadmap.

All in all, ICOs are still high-risk investments due to untrustworthiness and the potential for either party to act in bad faith. The solution is Jury.Online, a platform for safe and responsible ICO execution. Jury.Online allows for both the project’s tokens, and the investments poured into it, to be held in escrow until a specific milestone is reached.

In case investors disagree with the milestone’s end-result, they can turn to Jury.Online’s arbiters – experts in various fields including IT, law, fintech, blockchain technology, and more – for an impartial assessment.

Jury.Online’s responsible ICOs

To be listed on Jury.Online’s platform, projects will need to fill out a registration form. After the form is seen by Jury.Online’s team, the project will have to create a detailed roadmap, and set a minimum investment entry-level.

Investors, on the other hand, will have access to approved project’s as soon as they sign up. When the investors believe in a project and want to invest in it, the money is held in a smart contract and is reserved until the project reaches the milestone it sets. The project gets funded if it achieves what it sets in the smart contract, and if not the funds are sent back to the investors, excluding the platform’s fees.

When a startup manages to hit the milestone predicted in the smart contract, it will need to fill out a stage result form. The form will include a written description, links, and attachments that prove it got to its goal. The form is stored on the blockchain, and will be reviewed by investors, which can either accept or reject the form.

If they reject it, a dispute is started. Arbiters are informed of the dispute and are informed of what’s going on so they can then settle the dispute in favor of one of the parties.

The Jury.Online Token (JOT)

For its service, Jury.Online charges a fee from both the project and its investors, although investors still receive the amount of tokens they bought. Fees can be paid for in Ethereum, or in JOTs at a discount. When they’re paid in Ethereum, 33% is sent back to the investor as JOT’s.

To incentivize early adoption, the first 10 projects on the platform will see a 1% fee in Ehtereum, and a 0.5% fee in JOTs. The Ethereum fees will gradually increase until the platform reaches 100 projects, and will hit a maximum of 7%, while using JOTs for fees will always mean a 0.5% payment.

The platform’s arbiters will receive JOTs as payment for their services, up to 33% of the collected fees. Over time, Jury.Online will be able to launch new services, such as roadmap assessments and recommendations, project ratings given by independent agencies, and more.